Hello guys, this is Alex, known as Trader Alexz .
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Green Satoshi Token (GST) is the game token of STEPN — a Web 3.0 lifestyle app with in-built fun social elements and gamification design. STEPN is the first move-to-earn NFT game where players earn GST tokens by walking, jogging and running outdoors while wearing NFT Sneakers. GST tokens can also be used to level up and mint new Sneakers, and players can sell/rent their NFT sneakers on the app Marketplace.
GST has been seeing lower lows and lower high after reaching its all time high at the $9 area in the 1D tf, meaning that GST is overall bearish. Now the question is can GST token survive?
Well fundamentally all this depends on their Ecosystem.
Note that there are two tokens in the STEPN ecosystem: the Green Satoshi token (GST) is the game’s utility token, which has an unlimited supply, and the Green Metaverse Token (GMT) is the governance token. So, how many STEPN (GMT) coins are there? The supply of GMT tokens is limited to 6 billion.
GST has an unlimited supply which is not good for it, even with the burn mechanism put in place its no match for GMT.
Now talking about the GST token price as seen on the chart above!
GST token in the 1 hour tf has successfully breaks the all time lows at the time of writing, we saw a break out and retest at the $2 area and now we are trading below it, due to the bearish momentum i experienced, i advice the token holders to back off at the moment till we see a new support.
Thank you.
Remember to always follow your trading plan regarding entry, risk and trade management.
Goodluck!
Pls if you like my idea, do not forget to support with a like and follow for more.
Green Satoshi Token (GST) is the game token of STEPN — a Web 3.0 lifestyle app with in-built fun social elements and gamification design. STEPN is the first move-to-earn NFT game where players earn GST tokens by walking, jogging and running outdoors while wearing NFT Sneakers. GST tokens can also be used to level up and mint new Sneakers, and players can sell/rent their NFT sneakers on the app Marketplace.
GST has been seeing lower lows and lower high after reaching its all time high at the $9 area in the 1D tf, meaning that GST is overall bearish. Now the question is can GST token survive?
Well fundamentally all this depends on their Ecosystem.
Note that there are two tokens in the STEPN ecosystem: the Green Satoshi token (GST) is the game’s utility token, which has an unlimited supply, and the Green Metaverse Token (GMT) is the governance token. So, how many STEPN (GMT) coins are there? The supply of GMT tokens is limited to 6 billion.
GST has an unlimited supply which is not good for it, even with the burn mechanism put in place its no match for GMT.
Now talking about the GST token price as seen on the chart above!
GST token in the 1 hour tf has successfully breaks the all time lows at the time of writing, we saw a break out and retest at the $2 area and now we are trading below it, due to the bearish momentum i experienced, i advice the token holders to back off at the moment till we see a new support.
Thank you.
Remember to always follow your trading plan regarding entry, risk and trade management.
Goodluck!
